The Media Image (TMI) is a full service, performance media specialist built on the mantra of data, people, results. In 2018 we celebrated our 4th listing on the ‘The Sunday Times Hiscox Tech Track 100’ and a 1st listing in FT future UK 100.
FOREX.com – A Profitable Restructuring.
FOREX.com is a division of Gain Capital Group, a dedicated partner to professional FX traders and fund managers worldwide. Institutional services include introducing broker (IB) programs and white label solutions.
-40% Reduction in CPA
+64% Increase in Conversion Rate
+40% Increase in Conversions
TMI needed to completely rebuild FOREX.com’s multi-market search campaigns to meet the client’s expectations. This was despite the client's diminishing budgets even as their goals and objectives remained at the same level.
Our strategy was to provide a complete rebuild across multiple match types. A large keyword coverage ensured scalability, both up and down, based on performance and budget. Alongside this, there were numerous accounts which needed to be concatenated in order to manage the markets most efficiently. For example, there were four different US accounts with contrasting (and sometimes overlapping) targeting, in addition to three different European accounts. Targeting in each account appeared illogical when looking with fresh eyes.
As FOREX.com is a conversion driven platform, with the main objective being to drive a demo account set up or a live funded account, the bulk of the account rebuild used action-driven keywords to target people who are interested in converting. The intersection of strategy and target audience in this campaign was very effective.
The implementation of the new account and campaign structures took place over a three-week period and was launched in full during August 2017. This restricted and controlled any disruption of performance and overall quality score.
With such an extensive keyword build across a multitude of accounts, algorithmic bidding was essential in driving efficient performance. We used a combination of positional and CPA bid strategies, for Brand and Generic categories respectively.
Furthermore, bid modifiers were placed across individual locations within the account to target historically better converting areas whilst minimizing exposure in areas which seldom convert. Adaptive Geo Location Targeting was added within DS to determine where bid modifications should be placed.
Year on year comparisons for FOREX.com US illustrate the success of TMI’s restructuring and campaign management overhaul. In December 2017, FOREX.com spent 16% less than in December 2016. Despite this, TMI achieved 41% more OLS conversions (872 in 2016 vs 1230 in 2017) at a 40% reduced CPA ($316.20 in 2016 vs $189.80 in 2017) and a 64% increase in conversion rate (1.7% in 2016 in comparison to 2.9% in 2017). In addition, the CTR also increased by 104% over the comparison period (4.1% in 2016 vs 8.36% in 2017).